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Print-on-demand services (POD) have grown in popularity over the past few years for a good reason. This model presents an excellent opportunity to start an online POD business without having to set up your own printing facility.
POD has recently emerged as an effective make money online (MMO) business model. Just the global POD software market is projected to grow at a compound annual growth rate (CAGR) of 33.86% between 2020 to 2026.
Is print-on-demand suitable for your business? Let’s find out!
What is Print on Demand and How Does it work?
POD is an inventory-free business concept like drop shipping, but with a twist. With POD, you can upload any desired design for any product, and your print partner will ship it directly to the client.
The Process
- A consumer makes a purchase in your shop.
- Your print partner will advise you that they have received the order and will start production immediately, as they have your credit card on file, you don’t have to do anything.
- Once the product has been printed, your partner will send it and inform you.
- The customer receives tracking information from your store.
- The customer gets the ordered item.
POD is significantly less expensive than traditional business models. There are no initial start-up costs for purchasing multiple products. There is no need to invest a significant amount of money in maintenance or possible expansions. You have the freedom to experiment with your printed products, making it a cost-effective and low-risk option. As a result, it is the ideal option for new small businesses, especially e-commerce operations.
Wondering whether or not to establish a business via POD? You’d like to open a Shopify store and link it to Printicks, or you’re preparing to launch a POD marketplace like Redbubble.
Whatever the situation, it will do you well to learn about the pros and cons of POD.
Pros of print-on-demand
No bulk order
The clue is contained in the phrase ‘on demand’. Since printers only print what is ordered, you do not need to worry about purchasing more significant numbers that you cannot sell.
No equipment required
As you rely on a third company to print and dispatch your items, you do not need to invest in expensive equipment or learn how to operate it!
Time-saver
You have more time to devote to marketing your business and producing designs – the fun thing – without worrying about printing and fulfilment.
Freedom to experiment and personalization
You can experiment with your designs and even offer them more customizable alternatives. And you can even experiment with your product selection, as POD businesses always provide new options.
Create your brand quickly
Your customers will never discover that you use a third-party POD service because your items are consistently branded and customized.
Cons of print on demand
There is a high level of trust in the print management firm because you cannot view the final output before it is delivered to the consumer. However, there is also the possibility that the product will not seem as intended or will be returned damaged. And if they have not performed their duties correctly, your business will pay the price.
As you cannot prevent errors, you must ensure that your POD service provider has a failsafe and accepts responsibility for them.
Stock availability
Product availability is contingent upon your printing partner. If your POD provider discontinues or runs out of your preferred items or the materials required to make your products, you may not be able to obtain the things you need.
Longer fulfilment
Since each item is printed on demand, it will take longer to produce orders than if you had pre-stocked things in advance. You must consequently manage your consumers’ expectations, so they know the additional lead times.
Returning items may be more challenging.
There is a great deal more to consider when using a third-party service, so if a consumer wishes to return an item, you should ensure that you have a returns policy alongside your POD provider.
Prices
Prices may vary from order to order. Since you are purchasing in smaller quantities, the pricing may vary between orders. In addition, if your POD provider increases their fees for any reason, your expenses may increase.
Conclusion
Print-on-demand is an excellent option for a startup, particularly an e-commerce company. It gives a low-cost solution with minimum risk and saves technical time, enabling you to focus on expanding your brand as more people purchase things online.
It is gaining popularity and constantly aims to manufacture the newest items and offer the most current customisation possibilities.
However, being dependent on another service provider and placing considerable faith in the third party with your brand are disadvantages. You must therefore ensure that you have chosen the ideal print-on-demand service provider.
This is where T Shirt Plus can assist you! We are a garment printing company specialising in delivery and fulfilment. In addition, we will prepare, select, and pack your product for shipment from Sydney to anywhere within Australia.
Here is suggested read from our blog: Top 10 T Shirt Design Trends For Print-On-Demand
